Public Sector Pensions...

NJW69

The only time we were ever told it wasn't compulsary was around 1990 I think when we were told we could draw our money out and then a spate of legal challenges followed where people were told they had been given bad advice and were compensated.

Thanks for letting me know I'll enquire and see if I can withdraw my money. Should be about 80k.

treliac

NJW69 wrote: »

Thanks for letting me know I'll enquire and see if I can withdraw my money. Should be about 80k.

Don't think you can do that; maybe withdraw and pay no more from now on which, of course, wouldn't make sense. Perhaps if terms and conditions are changed retrospectively, there would be a case to taking it and reinvesting elsewhere. However, any changes are only going to affect future investment, not accrued benefits.

chewmylegoff

NJW69 wrote: »

The only time we were ever told it wasn't compulsary was around 1990 I think when we were told we could draw our money out and then a spate of legal challenges followed where people were told they had been given bad advice and were compensated.

Thanks for letting me know I'll enquire and see if I can withdraw my money. Should be about 80k.

you can't withdraw money until you reach pensionable age. you can leave the scheme and stop paying more in if you don't like changes made to the T&C.

NJW69

I'm not angry about paying anything. I'm fed up of people having a go when they don't even know that we pay lots of money in over a long time.

I've just copied and pasted this from an NHS Trusts website. It's easy to see why members might think it's compulsory aka automatic (unless you request to opt out on the specified form which is not provided at the time you are given the form to join the scheme) and not variable i.e. guaranteed;

NHS Pension Scheme

The Scheme is an important and valuable staff benefit for people working in the NHS. As a member, you get an excellent package of pension benefits fully protected against inflation and guaranteed by the government.
Membership of the scheme is not compulsory, however all new staff will be brought into the Scheme automatically and should request form SD502 if they wish to leave the Scheme.

vivatifosi

treliac wrote: »

Don't think you can do that; maybe withdraw and pay no more from now on which, of course, wouldn't make sense. Perhaps if terms and conditions are changed retrospectively, there would be a case to taking it and reinvesting elsewhere. However, any changes are only going to affect future investment, not accrued benefits.

That's the key point as far as I'm concerned. The government can't, imo change accrued benefits while private db schemes are protected by the 90% PPF levy. It would then be flipping the situation over and giving the private sector better rights and lead to anarchy. However changing the scheme going forward is a realistic scenario and one that has been happening in the private sector for years. Nobody should take money out of a DB pension and transferring elsewhere without taking sound financial advice first.

Batchy

no matter wat scheme your on, its not allowed to change past accrued benefits, what they can do is change the way you accrue benefits for the future... increase EE contributions, reduce payout levels ie, 1/80ths rather than 1/60ths, reduce death in service, reduce early retirements, increase retirement age, decrease inflationary effect year on year increases, ie cap them at 2% etc, etc... but not to accrued benefits, only to future benefits... SO there might be two pension pots effectively

roddydogs

Andy_L wrote: »

No, only the military pension is non-contributory. Even then pay scales are abated to allow for an employee contribution. Arguably though its irrelevant whether theres a contribution or not as it still, ultimately, all comes from the same pot

Wrong, Traffic wardens and PCSOs pensions are non contributory, for a start.

Andy_L

roddydogs wrote: »

Wrong, Traffic wardens and PCSOs pensions are non contributory, for a start.

Are the PCSO not in the local gov pension scheme, like other police staff, with a 6% employee contribution?

One of the 1st results on google says Bedfords PCSO's are, I'd expect the rest of the country to be the same. Except possibly for the Met Police who, AIUI, use the Civil Service scheme instead

http://www.bedspolicecareers.co.uk/site/jobs.cfm?category=5&page=pay

Old_Slaphead

Batchy wrote: »

no matter wat scheme your on, its not allowed to change past accrued benefits, what they can do is change the way you accrue benefits for the future... increase EE contributions, reduce payout levels ie, 1/80ths rather than 1/60ths, reduce death in service, reduce early retirements, increase retirement age, decrease inflationary effect year on year increases, ie cap them at 2% etc, etc... but not to accrued benefits, only to future benefits... SO there might be two pension pots effectively

There's already 2 pots for for LGPS members. Maybe in future there will be 3 (or more)

Muhasib

thescouselander wrote: »

It depends on what you'd call heavily subsidised but I remember staying in a mess and eating a 3 course meal for £2.50. If thats not heavily subsidised I don't know what is.

Don't know when that was, however now the 'core' menu is well over £4 and in reality you will spend more. The move is toward single status (ie all ranks together) dining as well so in some sites there won't be mess dining.

You may as well be talking about a bygone age saying its £2.50 !!